5 Tips for the Real Estate Newbie

Checking out real estate can be as easy as 1-2-3. You contact an agent and look at houses, negotiate, and then buy. It’s not rocket science, but finding a cozy home that’s worth every dollar you spend requires a lot of patience and a few helpful tips.

If you’re reading this post, chances are you need a little help, it’s always best to justask. If you are a first time home buyer and you have no idea where to start, then youare in the right place.

The following are real estate tips to keep in mind while looking for the perfect home.

Find the right real estate agent.

Look for a real estate agent that can understand you and your needs. Someone youcan establish a good relationship with, since you’ll be working with him or her untilyou find your perfect home. Ask around for referrals from your co-workers,relatives and friends, they are likely to give you a few good recommendations.

Get yourself pre-approved.

Being ready never hurt anyone. Having a preapproval letter gives you an edgeamongst other bidders for a house you liked, it also eases the tension and stressfrom house hunting since you don't have to worry about it. Lastly, having apreapproved loan helps you stay on track and within budget.

Don’t forget to check up on the neighborhood.

Once you have your heart set on a house, don’t forget to research the neighborhood.Get familiar with the surroundings, take note of the location of important amenitiesand how near or far they are from your potential home. Sometimes this alone willchange your mind, based on the distance to the nearest schools or health careservices. The house might be right, but it would be better if it was locatedsomewhere a little closer to certain services.

Offer the highest and best price you can bid upfront.

Nice houses on prime lots get many bids every day and it may be difficult for you tostand out amongst all the other bidders. The best way to handle situations like theseis to avoid haggling and try and offer your best bid upfront. Sometimes owners haveso many bids that they don’t have the time to negotiate, especially when they have ahandful of buyers who might be able to write them a check for their asking priceright off the bat. Be sure to manage expectations properly by presenting the sellerwith your best offer plus supporting documents, and if they don’t like it, then at leastyou could say that you gave it your best shot. Most importantly, remember thatevery situation is different, so be sure to ask your agent for their opinion. All of theagents at Torelli Realty are adequately experienced to prepare you and will help youhandle any situation that you may come across.

Last but not least, learn to compromise.

In connection to the tip above, another way to bag the winning bid is: Compromise.You should be prepared to tailor your bid to what your seller is asking for. Sellersdon’t usually agree on big changes, like remodeling the home, and you don’t want tolose a house you like because of a stain on the carpet or a broken bathroom tile.Remember that these things are replaceable and you can always repair them onceyou have the house. What truly makes or breaks a house are its location, size, andlayout. If those 3 don’t check out with you, then it may be time to move on and lookfor a house more suited to your needs ... and maybe your wants ;)

So, what are some of the things you look for in a perfect home?

Please comment below.